Sign In
Buy LAZ
Lazard Earnings Calls
| Release date | May 01, 2026 |
| EPS estimate | $0.520 |
| EPS actual | $0.420 |
| EPS Surprise | -19.23% |
| Revenue estimate | 707.424M |
| Revenue actual | 673M |
| Revenue Surprise | -4.87% |
| Release date | Jan 29, 2026 |
| EPS estimate | $0.680 |
| EPS actual | $0.80 |
| EPS Surprise | 17.65% |
| Revenue estimate | 821.725M |
| Revenue actual | 906.721M |
| Revenue Surprise | 10.34% |
| Release date | Oct 23, 2025 |
| EPS estimate | $0.444 |
| EPS actual | $0.560 |
| EPS Surprise | 26.04% |
| Revenue estimate | 726.248M |
| Revenue actual | 782.426M |
| Revenue Surprise | 7.74% |
| Release date | Jul 24, 2025 |
| EPS estimate | $0.380 |
| EPS actual | $0.520 |
| EPS Surprise | 36.84% |
| Revenue estimate | 739.907M |
| Revenue actual | 807.953M |
| Revenue Surprise | 9.20% |
Last 4 Quarters for Lazard
Below you can see how LAZ performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Jul 24, 2025 |
| Price on release | $54.61 |
| EPS estimate | $0.380 |
| EPS actual | $0.520 |
| EPS surprise | 36.84% |
| Date | Price |
|---|---|
| Jul 18, 2025 | $54.35 |
| Jul 21, 2025 | $52.77 |
| Jul 22, 2025 | $53.78 |
| Jul 23, 2025 | $54.97 |
| Jul 24, 2025 | $54.61 |
| Jul 25, 2025 | $54.85 |
| Jul 28, 2025 | $54.33 |
| Jul 29, 2025 | $52.96 |
| Jul 30, 2025 | $53.13 |
| 4 days before | 0.478% |
| 4 days after | -2.71% |
| On release day | 0.439% |
| Change in period | -2.24% |
| Release date | Oct 23, 2025 |
| Price on release | $49.12 |
| EPS estimate | $0.444 |
| EPS actual | $0.560 |
| EPS surprise | 26.04% |
| Date | Price |
|---|---|
| Oct 17, 2025 | $48.63 |
| Oct 20, 2025 | $50.00 |
| Oct 21, 2025 | $50.92 |
| Oct 22, 2025 | $49.79 |
| Oct 23, 2025 | $49.12 |
| Oct 24, 2025 | $49.21 |
| Oct 27, 2025 | $50.28 |
| Oct 28, 2025 | $49.01 |
| Oct 29, 2025 | $47.86 |
| 4 days before | 1.01% |
| 4 days after | -2.57% |
| On release day | 0.183% |
| Change in period | -1.58% |
| Release date | Jan 29, 2026 |
| Price on release | $53.79 |
| EPS estimate | $0.680 |
| EPS actual | $0.80 |
| EPS surprise | 17.65% |
| Date | Price |
|---|---|
| Jan 23, 2026 | $51.37 |
| Jan 26, 2026 | $52.36 |
| Jan 27, 2026 | $52.77 |
| Jan 28, 2026 | $52.61 |
| Jan 29, 2026 | $53.79 |
| Jan 30, 2026 | $53.72 |
| Feb 02, 2026 | $53.80 |
| Feb 03, 2026 | $52.35 |
| Feb 04, 2026 | $55.25 |
| 4 days before | 4.71% |
| 4 days after | 2.71% |
| On release day | -0.130% |
| Change in period | 7.55% |
| Release date | May 01, 2026 |
| Price on release | $45.13 |
| EPS estimate | $0.520 |
| EPS actual | $0.420 |
| EPS surprise | -19.23% |
| Date | Price |
|---|---|
| Apr 27, 2026 | $49.28 |
| Apr 28, 2026 | $48.51 |
| Apr 29, 2026 | $47.48 |
| Apr 30, 2026 | $48.50 |
| May 01, 2026 | $45.13 |
| May 04, 2026 | $43.76 |
| May 05, 2026 | $45.10 |
| May 06, 2026 | $46.56 |
| May 07, 2026 | $46.44 |
| 4 days before | -8.42% |
| 4 days after | 2.90% |
| On release day | -3.04% |
| Change in period | -5.76% |
Lazard Earnings Call Transcript Summary of Q1 2026
Key points for investors:
- Strategic acquisition: Lazard announced the agreement to acquire Campbell Lutyens and to establish Lazard CL, a combined private capital advisory platform (primary, secondaries, GP capital advisory). Management expects the combined PCA revenue to be roughly $500 million in 2027. The deal is all-stock (reference price $46.50), ~$575 million in total noncontingent consideration (approximately $460 million upfront) plus potential performance earnouts, and is expected to be EPS-accretive in 2027 with no cost synergies assumed in the base case. Campbell Lutyens reportedly has mid-20s operating margins and complements Lazard’s existing PCA capabilities with limited overlap.
- Financial results (Q1 2026): Firm-wide adjusted net revenue was $673 million (up 5% YoY). Financial Advisory adjusted net revenue was $356 million (down 4% YoY) as some larger transactions slipped later in the year; Asset Management adjusted net revenue was $309 million (up 17% YoY).
- Asset Management momentum: AM reported $9 billion of net inflows in Q1 (highest quarterly net flow in almost 20 years), AUM $259 billion as of March 31, and average management fee ~44.6 bps in the quarter (up sequentially and year-over-year). Management expects continued net inflows for the full year but cautions quarter-to-quarter variability and a not-straight-line outlook.
- Compensation and cost discipline: Q1 adjusted compensation expense produced a compensation ratio of 69.9%. CFO guidance is for a full-year comp ratio closer to last year’s level (~65.5%), and management emphasized ongoing focus on operational efficiency, shared services, and AI/technology-driven productivity gains.
- Strategic positioning and outlook: Management framed the acquisition and recent hiring as part of the multi-year Lazard 2030 plan to diversify revenue sources (private capital connectivity now ~40% of advisory revenue and targeted ~50% with the deal), strengthen restructuring/liability management and capital solutions, and become an AI-enabled independent financial firm. They reiterated that Financial Advisory is lumpy but that underlying client engagement and conflict clearances (notably for >$5bn deals) are increasing, supporting the firm’s constructive outlook for the year.
